第二章账户与复式记账教材.ppt

* * * * * * * * * * * * * In the accounting process you first analyze a transaction by looking at proper source documentation. Next, we apply the rules of double-entry accounting and record a general journal entry. The general journal is a chronological listing of the transactions. At the end of the accounting period we post the information from the general journal to the proper general ledger account. The general ledger groups all transactions that impact a particular account. That is, all the transactions that increase or decrease the cash account are posted to the cash general ledger account. * Here is an example of the proper recording of a general journal transaction. We have seen a similar transaction before. In this case, the owner of the business contributes $30,000 cash to start the business. Let’s see how we get the various pieces. Part I The transaction occurred on December 1st, 2009. The date is important when recording general journal transactions and is recorded on the left side of the journal. Part II Next we identify the accounts affected by the transactions. The cash account is an asset that has increased. We show increases in asset accounts with a debit to that account. The C. Taylor, Capital account also increased and we show increases in equity accounts with a credit. Debits are always listed first in the journal followed by credits that are slightly indented below the debits. Part III The dollar amount is placed in the appropriate debit or credit column. In this case, the cash account was debited for $30,000, so we place that amount in the debit column. Part IV Finally, we prepare a brief description of the transaction so that other people who view our work will understand the nature of the transaction. This explanation is indented about as far as the credited account titles to avoid confusing it with accounts and it is italicized. * T-accounts are useful illustrations, but balance column ledger accounts are used in practice. The balance column